Short Interest in AvePoint, Inc. (NASDAQ:AVPT) Expands By 16.0%

AvePoint, Inc. (NASDAQ:AVPT) saw a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 5,450,000 shares, an increase of 16.0% from the August 15th total of 4,700,000 shares. Based on an average daily volume of 908,900 shares, the short-interest ratio is presently 6.0 days. Approximately 4.7% of the company’s shares are sold short.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price objective on shares of AvePoint in a research report on Monday. Citigroup increased their target price on AvePoint from $5.80 to $7.00 and gave the stock a “neutral” rating in a report on Tuesday, August 29th. Finally, TheStreet upgraded AvePoint from a “d+” rating to a “c-” rating in a report on Wednesday, May 31st.

AvePoint Stock Performance

AVPT traded down $0.14 during trading hours on Tuesday, hitting $6.69. 68,756 shares of the company’s stock were exchanged, compared to its average volume of 645,787. AvePoint has a 1-year low of $3.40 and a 1-year high of $7.13. The stock’s 50-day moving average is $6.32 and its two-hundred day moving average is $5.52.

AvePoint (NASDAQ:AVPT) last posted its quarterly earnings data on Wednesday, August 9th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.08). AvePoint had a negative return on equity of 18.50% and a negative net margin of 16.71%. The business had revenue of $64.90 million for the quarter, compared to analyst estimates of $61.78 million. During the same quarter in the prior year, the company earned ($0.05) earnings per share. The company’s quarterly revenue was up 16.5% on a year-over-year basis. Research analysts forecast that AvePoint will post -0.18 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Sixth Street Partners Manageme sold 16,666,600 shares of the firm’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $6.00, for a total transaction of $99,999,600.00. Following the sale, the insider now owns 1,885,806 shares of the company’s stock, valued at approximately $11,314,836. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 24.74% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Swiss National Bank increased its holdings in shares of AvePoint by 8.2% in the first quarter. Swiss National Bank now owns 193,100 shares of the company’s stock valued at $1,016,000 after purchasing an additional 14,600 shares during the last quarter. Citigroup Inc. grew its stake in AvePoint by 891.1% in the 1st quarter. Citigroup Inc. now owns 393,221 shares of the company’s stock valued at $2,068,000 after buying an additional 353,546 shares during the last quarter. AlphaCrest Capital Management LLC bought a new position in AvePoint in the 1st quarter valued at about $242,000. BlackRock Inc. lifted its position in AvePoint by 0.8% during the first quarter. BlackRock Inc. now owns 1,545,996 shares of the company’s stock worth $8,132,000 after acquiring an additional 11,553 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of AvePoint by 227.8% during the first quarter. Vanguard Group Inc. now owns 10,390,928 shares of the company’s stock worth $54,656,000 after acquiring an additional 7,220,811 shares during the period. Institutional investors own 42.76% of the company’s stock.

AvePoint Company Profile

AvePoint, Inc provides cloud-native software platform solutions. It also offers software-as-a-service solutions and productivity applications. The company offers modularity and cloud services architecture to address management of data to organizations that leverage third-party cloud vendors, including Microsoft, Salesforce, Google, AWS, Box, DropBox, and others.